Fluence Energy (NASDAQ:FLNC) Shares Up 6.4% – Here’s Why

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price rose 6.4% on Tuesday . The company traded as high as $20.97 and last traded at $20.90. Approximately 606,883 shares were traded during trading, a decline of 72% from the average daily volume of 2,182,313 shares. The stock had previously closed at $19.64.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FLNC. Susquehanna lifted their price objective on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. Robert W. Baird reduced their price objective on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Piper Sandler lifted their target price on Fluence Energy from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Citigroup cut Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price target for the company from $32.00 to $24.00 in a research report on Tuesday, October 1st. Finally, BMO Capital Markets raised their price target on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Fluence Energy currently has an average rating of “Moderate Buy” and an average target price of $26.63.

Fluence Energy Trading Up 3.9 %

The stock has a fifty day moving average price of $21.26 and a two-hundred day moving average price of $19.58.

Institutional Investors Weigh In On Fluence Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in FLNC. PARK CIRCLE Co acquired a new stake in shares of Fluence Energy during the 2nd quarter worth $28,000. US Bancorp DE increased its holdings in Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after buying an additional 1,475 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Fluence Energy by 264.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock worth $51,000 after acquiring an additional 2,146 shares during the period. Blue Trust Inc. acquired a new stake in shares of Fluence Energy during the 2nd quarter worth approximately $58,000. Finally, CWM LLC increased its stake in Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after acquiring an additional 1,767 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

About Fluence Energy

Fluence Energy, Inc, through its subsidiaries, offers energy storage products and solution, services, and artificial intelligence enabled software-as-a-service products for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.